TTK Prestige’s first quarter of the financial year 2022 is not looking bad, said TT Jagannathan, chairman, of the kitchen appliances and cookware manufacturer on Wednesday.

TTK Prestige share price saw a massive 15 percent rally on Tuesday, a day after reporting a stellar set of earnings for the March-ended quarter. The company clocked in its best-ever Q4 in terms of topline, bottomline and margins.

Speaking about results and the ongoing COVID-19 pandemic, Jagannathan told CNBC-TV18, “Q1 is not so bad, we will be about 50 percent ahead of last year's Q1. This time the (lockdown) restrictions apply to e-commerce also, so we have to wait and see what happens. The COVID, apparently, is going to take longer to control, so we do not know how long the lockdown is going to last.”

On price hike, he said, “We will not give up on margins. We will be able to maintain our price increases. We don’t know what the demand is going to be like. We will have to wait and see.”

On capacity and capex plans for the UK, Jagannathan added, “No capex plans for United Kingdom (UK), it's doing very well. In India, we are doubling our capacity in non-stick cookware and that will come into production by next month (June 2021) and we have got ample capacity in pressure cookers and appliances.”

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(Edited by : Ajay Vaishnav)